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Wednesday, August 18, 2010

Report: Softlayer Buy Worth $500M

The acquisition of Dallas-based SoftLayer Technologies by private equity firm GI Partners was worth $500M, according to reports. The valuation of the deal apparently came via a report from Moody's Investor Service, which said GI Partners acquired more than 70 percent of SoftLayer for $500M in enterprise value. GI Partners already owns hosting provider The Planet, along with other similar businesses. GI Partners said it would buy SoftLayer on August 4th, but did not disclose any financial terms of the deal. The revelation of the deal amount came via PEhub.